With the spectre of interest rate hikes largely out of the sector’s way, realty stocks including Oberoi Realty are garnering increased investors’ attention.
Oberoi Realty Ltd shares rose nearly 3.5% on the National Stock Exchange in Wednesday’s early trade, hitting a new 52-week high of ₹1,149.80. This is despite the company seeing a weak start to the financial year with Q1FY24 pre-sales or bookings slipping to an eight-quarter low.
But increased clarity on the much-awaited Thane project launches seems to have driven investors’ sentiment. Remember, a timely launch of these projects is a crucial determinant of the company’s FY24 pre-sales performance.
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